You must meet both of these criteria to be declared a bankrupt:
This is the process to make yourself a bankrupt. You are the debtor. The party to whom you owe money is the creditor.
You are filing a debtor's bankruptcy application.
Understand what bankruptcy means
Consider the consequences of and alternatives to bankruptcy before you proceed.
File an application
Find out the documents, fees and process to file an application for a bankruptcy order.
You must attend a court hearing where a registrar will hear the case and make a decision. This may be a bankruptcy order or other orders.
Yes. If you want to file a debtor's bankruptcy application against your firm, all of the following criteria must apply:
Note: A firm and a company are different legal entities. For information on insolvency cases for companies, find out more about company winding up.